At the end of July, Ethereum (ETH) surged by 48.77%, and August will be crucial for its next dynamics. The main question is whether ETH can break the $4,000 level.
$4K as a Key Level for ETH
Analysts consider $4,000 as a key threshold that could suggest a full breakout of current resistance. If ETH can reclaim this level, it will significantly increase the chances of growth in the future.
> "I think these are the two most likely paths for #ETH right now. Would like to see ETH break $4k in August, because I think it would then allow it to go higher by the end of the cycle" — Benjamin Cowen.
August's Seasonal Fluctuations
Historical data shows that August has often been a weak month for ETH, with an average loss of -12.56%. However, in post-election years, the trend is opposite, with ETH averaging a 63.8% gain in August.
> "August is typically a bearish month for $ETH, except in post-election years. In post-election years, $ETH has averaged a 63.8% gain in August." — Lark Davis.
Summary of Current ETH Trends
ETH's growth at the end of July was driven by increased demand and market strength. If ETH shows an increase of at least 30% this month, it will approach historical highs. ETH's performance in August is likely to depend on broader macroeconomic trends and its interaction with key technical levels.
August will be critical for Ethereum's further course. Breaking the $4,000 level could solidify bearish forecasts, but history shows that in post-election years, ETH can demonstrate significant growth.
